Today’s top tech news, March 15: Uber plans to kick off IPO in April

Apart from Uber, we also have updates from Ofo, Mswipe, and a cyber security bill in Thailand Uber plans to kick off IPO in April – Reuters Ride-hailing giant Uber is set to kick off its initial public offering in April, according to an exclusive report by Reuters. Citing sources familiar with the matter, the […]
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Apart from Uber, we also have updates from Ofo, Mswipe, and a cyber security bill in Thailand

Uber plans to kick off IPO in April – Reuters

Ride-hailing giant Uber is set to kick off its initial public offering in April, according to an exclusive report by Reuters.

Citing sources familiar with the matter, the report said that Uber will issue its required public disclosure (S-1) and launch investor roadshow next month.

The company is set to hit public markets immediately after its competitor Lyft began theirs at the end of March. The two companies had filed confidential paperwork for the IPO “at the same time” in December.

Uber has declined to comment on the matter.

Singapore extends deadline for Ofo to remove bicycles – Tech In Asia

Singapore’s Land Transport Authority (LTA) has extended the deadline for bike-sharing service Ofo to remove its bicycles from the country, from its original deadline of Wednesday this week, Tech In Asia reported.

During this extension period, Ofo’s license will continue to be suspended.

An LTA spokesperson said that the agency’s decision was influenced in part by the company’s success in implementing the country’s new QR-based parking regime, which requires bike-share users to scan a QR code to confirm they have parked their dockless cycle in a designated area.

The company has also informed LTA that it is in “advanced stages of negotiations” to partner its Singapore unit with a third party.

In February, Ofo had its operator’s license suspended for failing to comply with updated regulatory requirements for bike-sharing services, particularly due to its lack of progress in QR-code parking integration and failure to ban users who repeatedly park outside designated zones.

The funding round followed the company’s Series D funding round in 2017 when UC-RNT Fund and existing investors invested around INR2 billion (US$28.8 million) into the company.

Thai cyber security bill raises criticism – The Bangkok Post

Thailand’s new cyber security bill, which was introduced just weeks ahead of the country’s first democratic elections since 2014 military coup, has raised criticism for the possibility that it might be used to curb political dissent, Bangkok Post reported.

“Authorities have already penalised scores of journalists, politicians, activists, academics and students under vaguely worded legislation. This new law would entrench the stifling political climate cultivated by the military government,” said Katherine Gerson, a Thailand researcher at Amnesty International.